The Gloom Is Manufactured. Just Beneath – A Golden Age. And Not For Our Blinking Elites Either — Elizabeth Nickson
Our banking elites are the impediment, the bad actors, the toxic swine in the farmyard. They must be put down like the rabid dogs they are. Mr. Carney. Madam Von der Leyen. Retire now or else
https://elizabethnickson.substack.com/p/the-gloom-is-manufactured-just-beneath-aad?
An inspirational, entertaining and informative gift on a Sunday morning! FGC — I predict that you will like this!
I LIKED IT SO MUCH I POSTED IT SATURDAY 🙂
I AM GLAD YOU POSTED IT AGAIN 🙂
THIS GAL IS SOMETHING ELSE EH ?
So dump Carney and von der Leyen. Fine.
But they find others to take their places.
The problem is the banking system.
ESPECIALLY, banks profiting from gains, then using CBs to socialize their losses.
How do you fix that for a core function of society?
Banking is (should be) a utility. Like water and power.
In Telecom, ca 2000, with a Bell merger, staff proposed making the copper loops regulated “common carrier” local monopolies but making them Open Access to Resellers, then letting the telco’s compete with each other to provide addon services (for video, as ISPs, telephony, etc). (7th Floor canned the idea.)
Why not the do the same for basic banking (checking) and limit FDIC to that commensurate with (no) skin the game. Separate out the higher risk banking (mortgage, commercial, international and investment banking).
If that lending is NOT sold forward (off) to investors, then remove the FDIC support.
The problem is the systemic risk from credit booms.
Let players fail, without (directly) impacting Average Joe.
Yeah, replace Ursula with Christia Freeman….. OMG.
Tie it all up with Christia….
And, yes sir Elizabeth N. is great.